Communiqués de presse

First Asset Funds Inc. Announces January, 2008 Distributions

TORONTO, January 22, 2008 - First Asset Funds Inc. announces the following confirmed distributions for the month ending January 31, 2008. In all cases, the distribution will be paid on or before February 15, 2008 to unitholders of record on January 31, 2008.


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Name                  TSX  Distribution       TSX  Annualized       Pre-Tax
                   Symbol        Amount   Trading    Yield(b)      Interest
                             (per unit)  Price(a)             Equivalent(c)
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First Asset Yield
 Opportunity       FAY.UN     $  0.1458   $ 19.31       9.06%        12.98%
 Trust - Series A
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First Asset Yield
 Opportunity Trust                  USD
 - Series B         FAY.U     $  0.0440   $  5.61       9.41%        13.49%
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Global 45 Split
 Corp.                GFV     $    0.10   $ 13.00       9.23%        13.23%
 - Class A Shares
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First Asset
 Income &          IGF.UN     $ 0.05833   $  8.04       8.71%        11.53%
 Growth Fund
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First Asset
 Pipes & Power     EWP.UN     $ 0.05833   $  6.90      10.14%        11.90%
 Income Fund
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First Asset/
 BlackRock North
 American
 Dividend          BDA.UN     $    0.05   $  8.08       7.43%        10.64%
 Achievers(TM)
 Trust
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Split REIT
Opportunity Trust  SOT.UN     $  0.0875   $ 13.15       7.98%        11.44%
 - Capital Units
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Utility Split Trust  
 - Capital Units   UST.UN     $ 0.09688   $ 10.51      11.06%        15.85%
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(a) As at close on January 18, 2008. (b) Based on trading price as at 
January 18, 2008.
(c) Estimated - based on Ontario tax rates.

For further information, please contact Rob MacNiven, Investor Relations at 416-642-1289 or 1-877-642-1289, or visit www.firstasset.com.


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